Central Banks
BoE has 'space' to opt for more quantitative easing: deputy prime minister
Bank of England must independently decide on whether to introduce more quantitative easing, says deputy prime minister Nick Clegg; issues stark global economy warning
Turkey’s Basçı outlines strategy to overcome commodity price volatility
Central Bank of Turkey governor Erdem Basçı says setting targets and forecasts for inflation offers firmer commitment from central bank
NY Fed paper identifies causes of US housing bubble
New York Federal Reserve study shows US housing boom was driven by lower lending standards and overly optimistic investors
Bank of Israel paper reviews bond market reforms
Bank of Israel study shows success of reforms to local secondary government bond market were mixed
Domestic factors major contributor to global crisis: ECB paper
European Central Bank study says contribution of systemic contagion effects from US markets towards global crisis are overplayed
Non-cash payments growth slows
World Payments Report 2011 finds slower growth in non-cash payments; key regulatory and industry initiatives are combining to gradually transform the payments landscape
BoJ prepared to react to strengthening yen, says Miyao
Bank of Japan policy board member Ryuzo Miyao says central bank stands ready to stem deflationary pressures resulting from rising yen
Philippines appoints new Monetary Board member
Armando Suratos is new member of Monetary Board; replaces former finance secretary Juanita Amatong
US lawmaker presses for change to FOMC voting system
Congressman Barney Frank to introduce bill that calls for replacement of regional Fed presidents on FOMC with four external members; calls Fed presidents a "self-perpetuating" group
Fed policy must be state contingent: Bullard
St Louis Federal Reserve president James Bullard calls for FOMC to discard fixed dates for setting policy
Financial stability reports effective communication tool: NBP paper
National Bank of Poland study says central bank communication can reduce market volatility through financial stability reports
BoC paper experiments with price-level targeting
Bank of Canada study finds evidence in support of well-anchored inflation expectations in a price-level targeting regime
Survey-based measures offer benefits over factor models: ECB paper
European Central Bank study says survey-based measures provide substantial forecasting benefits during recessions
HKMA’s Chan happy with pace of renminbi internationalisation
Norman Chan accepting of need to test the offshore market with step by step internationalisation of renminbi; urges banks to get ready for trade using Chinese currency
Posen calls for UK version of Fannie Mae
Bank of England MPC external member Adam Posen says establishment of government-sponsored entities would make up for credit short fall in lending markets; calls for immediate quantitative easing
First regulatory co-operation council meeting held in New Zealand
Council of Financial Regulators meets; confidential discussions focus on identifying trends and issues and co-ordinating responses to them
South Korea advertises for new reserve manager
Bank of Korea seeks reserve manager; follows first gold purchase for years this summer
UK ring fence poses legislative challenges
ICB stops short of asking for complete separation of retail arm from investment operations; how the government will legislate on the proposals is still unclear
Sensible ideas from Vickers – but are they too late?
As the banking industry sits on the brink of another crisis, Robert Pringle asks, has the ICB report come too late?
Target2 offers useful liquidity monitoring tool: Netherlands Bank paper
Netherlands Bank study says Target2 payments systems can identify early signs of bank illiquidity